Charles Schwab to add Solana, Avalanche and Chainlink to crypto trading platform

Months after rolling out Bitcoin and Ethereum trading on its platforms, Charles Schwab is ready to expand its spot crypto listings.

On Thursday, the firm announced plans to add Solana (SOL), Avalanche (AVAX), and Chainlink (LINK) to the Schwab Crypto platform. The additions are part of Schwab’s plans to "thoughtfully expand" its digital asset offering with established cryptocurrencies that align with client demand.

These new digital assets will be available "in the coming months" for clients to buy and sell, the investment manager said in a release.

The move expands Schwab's push into a market where traditional brokerages are increasingly competing for crypto investors. While platforms such as Coinbase and Robinhood offer access to a broader range of digital assets, Schwab has taken a more measured approach, initially launching direct trading for BTC and ETH before adding three of the largest established cryptocurrencies outside those two assets.

Schwab Crypto began rolling out BTC and ETH trading to clients in May. The firm charges 75 basis points per transaction.

Schwab oversees over $12 trillion in client assets and has 39 million active brokerage accounts. For crypto protocols, gaining access to Schwab's retail investor base could represent a significant distribution opportunity, particularly as trading increasingly moves from crypto-native platforms to traditional brokerages.

"With this expansion, clients will have more choices to build a digital asset allocation alongside the investing and banking experience they know and trust at Schwab," Joe Vietri, Head of Digital Assets at Charles Schwab, said in a statement. "These additions are consistent with our approach to provide clients with access to familiar cryptocurrencies backed by an ecosystem of education, tools, resources, and support to make informed decisions about how crypto might fit into their broader investing goals."